Culmination of 20 years experience; simplifies ordering of REO services and management of vendors

Littleton, Colo., Nov. 12, 2009 – Lenders Asset Management Corporation (LAMCO), a full-service, nationwide default management company that offers comprehensive REO services, announced the official formalization of its evolving LAMCO REO Liquidation Management Process, a comprehensive system crafted during the past 20 years to cost-effectively manage and liquidate REO properties.

Since 1989, LAMCO has developed this process to deliver customizable REO solutions that enable lending institutions, servicers, investment firms and insurance entities the ability to cost-effectively scale operations and liquidate REO assets with mitigated risk. This process has enabled the company to turn REO properties around in approximately half the time of the industry standard.
A key element of the process is the LAMCOnetwork, an Internet portal that connects buyers and suppliers of REO services throughout the country. The LAMCOnetwork connects lenders and servicers with real estate agents, lawyers, brokers, contractors and other vendors in a one-stop, intelligent database. The network is an affordable marketing tool that provides REO value-chain professionals national exposure to their services within their local business area. Lenders, servicers and other entities can use the network, at no charge, to identify these vendors and manage their REO default process. LAMCO can also provide a turn-key solution for the management of the entire process, from initial legal action through the sale of the property.

A second part of LAMCO’s process is its quality management system for securing and reselling REO properties in full compliance with local and federal regulations. The company has specialized teams of experts, handling specific activities associated with the liquidation process, such as compliance-related issues. The teams’ expertise and experience ensures successful disposition management operations that reduce costs and mitigate risk.

“The LAMCO REO Liquidation Management Process leverages 20 years of lessons and best practices into a system that enables lenders and servicers to efficiently scale operations and liquidate REO assets cost-effectively and with mitigated risk,” said Brandon J. Hawkes, CEO of LAMCO. “It encompasses all elements of the client – LAMCO REO outsourcing relationship, including plans for client on-boarding and process integration, training, service delivery standards, account management, performance review, security and continuous improvement methods.”